TRUNO, Retail Technology Solutions is set to acquire TimeForge; together the two companies provide technology solutions for retailers to optimize their margins through enhanced labor analysis and decision support tools.
TRUNO, Retail Technology Solutions (TRUNO), the retail industry leader in integrated technology solutions, today announced they have reached a definitive acquisition agreement with TimeForge, the retail industry leader in labor management software. The acquisition, expected to close August 15th, 2016, strategically aligns resources and infrastructure between the two companies, affording retailers the industry's most comprehensive labor analytics solution.
In a dynamic landscape of changing regulations including recent minimum wage increases, health care changes, and overtime reimbursement rulings, labor analytics is an increasingly important aspect of doing business. By leveraging technology to optimize the labor force, retailers can in turn optimize their margins. "In an industry known for operating within small margins, TRUNO believes strategic labor operations are instrumental in the success of brick and mortar retail. TRUNO will continue to invest in solutions we believe deliver valuable results to retailers," David Miller, TRUNO's Chief Executive Officer, stated of the strategic business transaction." The acquisition of TimeForge is directly in line with TRUNO's vision to lead the navigation of technology, empowering businesses as the most trusted solutions provider." The TimeForge suite of solutions has proven to provide retailers value in reducing labor spend and increasing profits through real-time online scheduling, employee tracking, and payroll reporting.
"Building on a long history of successful partnership, we are excited to join TeamTRUNO," Anthony Presley, Founder and President of TimeForge, said of the integration. "Our products, when combined with TRUNO's vast point-of-sale data accessibility and knowledge, create a lot of value for our customers." Both companies are headquartered in Lubbock, Texas, and the two companies share similar cultures and values.